Sav launches ‘Save-now-buy-later’ solution for UAE shoppers
By Delisha Fernandes
Sav, a FinTech app, has launched “Save Now, Buy Later” (SNBL) feature to bridge the gap in aspirational goals and sustainable affordability for UAE residents and families.
With over 46.7% of the UAE population falling into credit card debts and 12.8% actively looking for loans, Sav’s SNBL feature has been launched as the UAE residents face rising inflation and lifestyle challenges.
“We understand the importance of fostering healthy financial habits and promoting a more sustainable approach to affordability,” said Purvi Munot, CEO at Sav. “Sav’s SNBL solution allows users to make high-value purchases with their savings, without debt. We proudly launch this feature with some of the UAE’s top consumer brands across multiple categories.”
The FinTech app aims to alleviate financial stress and guide individuals towards a more sustainable lifestyle. SNBL promotes a savings-focused approach to big-ticket purchases rather than relying on credit and accumulating debt.
Understanding the consumptive behaviour of young households, and the missing benefits in planned consumption, Sav is addressing the impending need for innovative debt-free personal finance tools. The SNBL feature presents a flip side to BNPL, incentivising users to practice good money behaviour and responsibly plan their purchases.
“With Sav, we start to change the relationship between brands and consumers. In our experience, most brands in the UAE are also keen to support responsible consumption and see SNBL as a new payment option in the customer’s best interest, said Saurabh Bhardwaj, Partnerships and Growth at Sav.”
The SNBL option puts brands in charge of their customer’s purchase journey early, boosting brand affinity and building loyalty. Moreover, Sav helps brands overcome challenges like rising customer acquisition costs and online shopping cart abandonment.
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September 27, 2023
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